Location now irrelevant for global investing

Investing in global equities is no longer about a small number of big developed markets, but rather investing in sound global companies where location is irrelevant, according to Andrew McMenigall, an Edinburgh-based global fund manager at Aberdeen Asset Management. "Features often associated with the emerging world -- large debt, low savings and part nationalised banks -- are now evident in the developed world, while the global bargaining power of emerging markets has grown with lar…